Chart Industries (NYSE:GTLS) Updates FY23 Earnings Guidance

Chart Industries (NYSE:GTLS – Get Rating) updated its FY23 earnings guidance on Friday. The company provided earnings per share guidance of $5.50-6.70 for the period, compared to the consensus earnings per share estimate of $5.26. The company issued revenue guidance of $2.1-2.2 billion, compared to the consensus revenue estimate of $2.14 billion.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James upgraded Chart Industries from a market perform rating to a strong-buy rating and set a $160.00 target price on the stock in a report on Wednesday, January 4th. Wells Fargo & Company dropped their target price on Chart Industries from $148.00 to $144.00 and set an equal weight rating on the stock in a report on Monday, February 27th. The Goldman Sachs Group downgraded Chart Industries from a buy rating to a neutral rating and dropped their target price for the company from $259.00 to $150.00 in a report on Tuesday, November 22nd. Craig Hallum dropped their target price on Chart Industries from $249.00 to $205.00 and set a buy rating on the stock in a report on Monday, February 13th. Finally, TheStreet cut Chart Industries from a b- rating to a c rating in a research note on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chart Industries currently has an average rating of Moderate Buy and a consensus price target of $193.60.

Chart Industries Stock Down 12.4 %

Shares of Chart Industries stock opened at $102.94 on Friday. The stock has a market capitalization of $4.40 billion, a P/E ratio of 180.60 and a beta of 1.46. The company has a quick ratio of 3.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $131.99 and a two-hundred day moving average price of $154.44. Chart Industries has a 12-month low of $101.44 and a 12-month high of $242.59.

Chart Industries (NYSE:GTLS – Get Rating) last announced its earnings results on Friday, February 24th. The industrial products company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.03. The firm had revenue of $441.40 million during the quarter, compared to analysts’ expectations of $490.88 million. Chart Industries had a return on equity of 7.84% and a net margin of 1.40%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. Equities analysts expect that Chart Industries will post 6.03 earnings per share for the current year.

Institutional Investors Weigh In On Chart Industries

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in shares of Chart Industries by 16.1% during the first quarter. Capital World Investors now owns 4,402,819 shares of the industrial products company’s stock worth $756,272,000 after buying an additional 609,148 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Chart Industries by 63.1% during the first quarter. Wellington Management Group LLP now owns 1,339,412 shares of the industrial products company’s stock worth $230,071,000 after buying an additional 517,951 shares during the last quarter. State Street Corp lifted its holdings in shares of Chart Industries by 1.7% during the third quarter. State Street Corp now owns 1,153,477 shares of the industrial products company’s stock worth $212,643,000 after buying an additional 19,413 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Chart Industries by 6.5% during the first quarter. Invesco Ltd. now owns 1,127,603 shares of the industrial products company’s stock worth $193,688,000 after buying an additional 69,149 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Chart Industries by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,025,908 shares of the industrial products company’s stock worth $176,220,000 after buying an additional 257,402 shares during the last quarter.

About Chart Industries

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Chart Industries, Inc engages in the manufacturing of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following business segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service & Leasing, and Corporate. The Cryo Tank Solutions segment supplies bulk, microbulk, and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases.